Pelosi: Congress will soon have legislation against members' stock speculation

2022 year 2 month 9 Japan （ Wednesday ）, Pelosi, speaker of the US House of Representatives, said , A bill has been approved to restrict the trading of members of Congress .

at present , The details of the bill are not yet clear , About which types of investments will be banned 、 What new members need to do to comply with the new law , And whether the family members of the legislator will also be prohibited from trading , There are still many problems .

01 Limit the members of Parliament to reach a consensus

Wednesday , Nancy, speaker of the U.S. House of Representatives · Pelosi said , The Democratic Party is expected to reach a consensus on restricting members of Congress from trading , And called for new rules for federal judges . At present, the relevant proposals are winning the support of both parties . Pelosi had previously opposed this legislation .

Pelosi said ：“ It's complicated , But the senators will solve it .” The California Democrat said when referring to the House executive committee responsible for reviewing the bill ：“ I think they will have results soon .” She also hopes that relevant legislation can also require the judiciary （ Including Supreme Court judges ） Disclose financial information . She said ：“ The whole government level needs to be regulated .”

Republicans are very interested in the new rules , Despite the opposition of some ordinary Republican lawmakers . An assistant said , House minority leader Kevin · McCarthy is considering supporting the proposal for new restrictions on parliamentary shareholdings .

in general , With the attitude change of House Speaker Pelosi and the support of Senate Majority Leader Schumer for the ban , Substantial progress is expected on the bill banning U.S. lawmakers and their relatives from speculation in stocks .

02 The asymmetric advantage of Congress

The core issue of trading is whether members of Congress have an unfair advantage in the market , Because they know information that the public cannot get every day .

Examples of such information include confidential briefings on national security issues 、 Advance knowledge of regulatory actions and relevant legislation 、 Private details of funding and tax policies . Any of these may cause a conflict of interest for legislators who own and trade companies affected by this information .

at present , There are several plans for members of Congress to restrict stock speculation . Senator Jon · Osov and mark · Take Kelly's proposal as an example , The bill prohibits members of Congress 、 Their spouses and dependent children trade during their tenure . The bill that dianes and Warren plan to propose goes further , Members of Parliament are even prohibited from holding . This means that newly elected members of Congress will be required to actually sell their holdings , Whether or not this sale is financially beneficial .

in general , At present, there are still differences on the details , For example, whether it is applicable to the spouse and children of members of Parliament , And what types of investments are allowed . meanwhile , Pelosi specifically pointed out , It is necessary to include the federal judiciary .